3D Systems' New CFO Could Mark The Start Of Big Changes
3D Systems named a new Chief Financial Officer (CFO) this week.
The South Carolina-based company is one of the largest in the field of 3D printing, and is one of the two largest publicly traded firms.
New CFO at 3D Systems
The new CFO, Todd Booth, seems suited for the role, as 3D Systems explains:
“Booth brings to 3D Systems 25 years of progressive financial leadership at large and mid-market growth companies as well as diverse industry experience in automotive, healthcare, defense, energy, electronics and marine. Most recently, he was CFO for Teledyne Marine where he successfully led a complex, global transformation.”
Booth replaces John McMullen, who apparently planned to retire this year. This is an important point, as the company is having some financial challenges, as 3D Systems’ latest quarterly report was less than stellar.
Why do I think this is important? Given the latest financial results, it would not be surprising if 3D Systems made some significant moves to alter course, and that could include changing those in executive leadership roles. In fact, I said in our previous story on 3D Systems:
“I’m expecting some dramatic changes at the company in the next while.”
We also posted thoughts on what those actions might be to make changes at 3D Systems earlier.
But Booth is entering 3D Systems to replace the retiring McMullen, correct? But wait, let’s review 3D Systems’ description again:
“Most recently, he was CFO for Teledyne Marine where he successfully led a complex, global transformation.”
Bolding is mine. I am pretty certain 3D Systems knows they must make some notable changes in their operation, and soon. Having someone in a leadership role retire is actually the perfect time to introduce a new leader with new ideas.
3D Systems Leadership
Leaders in an organization are very often selected for their specialty knowledge. Sure, there are plenty of CFO-qualified individuals who might take that role, as they would all have the proper accounting credentials.
But that’s not the reason someone is selected as a leader for an organization. Qualifications are just the “ante” to get considered. What really matters at that level is the specific projects in which the candidate has significant experience. That is what 3D Systems is “buying” when they select a leader.
3D Systems Transformation?
Based on Booth’s description from the company, it may suggest that 3D Systems is about to undergo a “complex, global transformation”. I have no specific ideas of what that might be, but it sounds significant, and is obviously necessary for 3D Systems at this point.
Hopefully we will see some announcements from 3D Systems in the next few months that might begin to unveil where their next strategy lies.
Via 3D Systems